Company News

Eckington Park Project Receives I-924 Exemplar Approval

Washington,
DC – EB5 Capital announced
today its receipt of an I-924 exemplar approval for its Eckington Parkproject, located in the Northeast
corridor of Washington, DC. The United States Citizenship and Immigration
Services (USCIS) approved the project in only nine months, while USCIS’ current
average I-924 exemplar processing time is between 60 and 80.5 months.

“USCIS’
exemplar approval of Eckington Parkprovides
an additional layer of confidence for the project’s investors,” said Brian
Ostar, EB5 Capital’s Senior Vice President of Global Operations. “Securing USCIS
approvals for our EB-5 projects is a responsibility we take very seriously.”

EB5
Capital is contributing a $31 million preferred equity investment in Foulger-Pratt’s development of the $115 million, 327-unit Class A
multifamily project. Eckington Park will feature 9,000 square feet of retail
and is located adjacent to the District of Columbia’s Tanner Park, an upcoming
green space project, which will be home to a new playground, dog park, and
amphitheater. The project is currently under construction and completion is expected in
Q3 2021.

“Eckington Park is our firm’s
sixth project in the area, all within walking distance of the growing NoMa
neighborhood of Washington, DC,” said Patrick Rainey,
EB5 Capital’s Vice President of Investments. “This development will offer
an accessible, amenity-rich experience to an area that was in great need of
additional housing and density.”

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About
EB5 Capital

EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $750 million in foreign capital from investors in more than 65 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates five USCIS-authorized Regional Centers that serve 14 states and the District of Columbia. With a portfolio of 27 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.